TORONTO, Feb. 25 /CNW/ - Advanced Explorations Inc. (the "Company" or
"AEI") is pleased to announce that Mr. Jim Excell has joined the Company as a
Special Advisor. Jim Excell has more than three decades of operating and major
project management experience in the mining industry. He managed and developed
some of the world's premier mining projects in Canada, the United States and
Australia, including the EKATI Diamond Mine in the Northwest Territories.
Jim's mining career started with BHP in the iron ore sector. He brings not
only an Arctic experience to his role at AEI but also an intimate
understanding of the iron ore mining and processing business.
John Gingerich, President and CEO, commented:
"Having a person like Jim on the team is a huge boost for AEI. He is an
established leader in our industry with a wealth of talent and experience in
mining in the Canadian North and working with Aboriginal groups. Jim will play
an important role in helping move the Roche Bay magnetite project forward and
securing a strategic partner. We are extremely proud to have been able to
attract a person of Jim's stature.
About James D. (Jim) Excell:
He led the construction, commissioning and subsequent operation of the
$700 million development of the EKATI Mine, Canada's first diamond mine
and served as Chairman of BHP Billiton Diamonds Inc. to June 2005. From
1999 to 2003, Jim was President and COO of EKATI Diamond Mine and
BHP Billiton Diamonds Inc.
Jim Excell started his career with BHP in iron ore, having experience in
both mining and pellet operations. His experience also includes the
management of copper operations in British Columbia, as well as,
metallurgical and thermal coal mines in Australia and the U.S. In
addition to his outstanding industry experience, he is recognized for
fostering goodwill relations with government and aboriginal groups.
Jim has recently completed a 3 year term as President & CEO of
North American Palladium Ltd - a public company with operations in
northern Ontario and exploration interests in Finland.
For his contributions to the mining industry, Jim Excell has been
recognized with such awards as: Businessman of the Year from the NWT
Chamber of Commerce, Resource Person of the Year by the Alberta Chamber
of Resources, and on behalf of BHP Billiton Diamonds Inc., the
Viola R. MacMillan Developers Award for outstanding leadership in
management and financing for exploration and development of mineral
Jim is a director of Diamondex Resources Ltd and Fortune Minerals Ltd.
In addition he is a director of the PDAC and serves on the Aboriginal
Affairs Committee of the PDAC.
The Company also announces that, pursuant to the Company's Stock Option
Plan approved at the June 4, 2008 Annual General Meeting, it will issue a
total of 2,100,000 options to directors, consultants and management at a price
of $0.16 per common share exercisable in whole or in part on or before five
years from the date hereof.
Advanced Explorations has booked a suite at this year's PDAC conference.
The management team will be available on Tuesday March 3, 2009 in the North
Building, Level 2 (Street Level), Room 205B of the Metro Toronto Convention
Centre from 12:00 pm to 7:30 pm.
ON BEHALF OF THE BOARD
John Gingerich, President and CEO
ABOUT Advanced Explorations Inc.
Advanced Explorations Inc., based in Toronto, Ontario, is a mining
exploration company focused on developing high quality iron ore opportunities.
As part of this strategy, AEI acquired the option to earn a 100% ownership
interest in the Roche Bay Magnetite Project located on the Melville Peninsula
in Nunavut, Canada. Led by an experienced management team with technical,
exploration and mining expertise the company has the capabilities to rapidly
advance the Roche Bay Project and explore other local and global
opportunities. Located proximal to a natural deep water harbour the Roche Bay
deposit benefits from transportation efficiencies possibly making it one of
the world's premium iron ore prospects. In 2008, AEI updated its business plan
for the Roche Bay project and is examining moving forward from the traditional
iron pellet operation to a granulated pig iron (nugget) business. Shares of
the company trade at the TSX Venture Exchange (AXI) and at the Frankfurt Stock
Exchange (AE6). For more information please visit
THE TSX VENTURE EXCHANGE HAS NEITHER APPROVED OR DISAPPROVED OF THE
This news release also includes forward-looking statements that involve a
number of risks and uncertainties. The information reflects numerous
assumptions as to industry performance, general business and economic
conditions, regulatory and legal requirements, taxes and other matters, many
of which are beyond the control of the company. Similarly, this information
assumes certain future business decisions that are subject to change. There
can be no assurance that the results predicted here will be realized. Actual
results may vary from those represented, and those variations may be material.
This news release does not constitute an offer to sell or a solicitation
of an offer to sell any securities in the United States. The securities have
not been and will not be registered under the United States Securities Act of
1933, as amended (the "U.S. Securities Act") or any state securities laws and
may not be offered or sold within the United States or to U.S. Persons unless
registered under the U.S. Securities Act and applicable state securities laws
or an exemption from such registration is available.
For further information:
For further information: (416) 203-0057 x226